Investing.com - The U.S. dollar was lower against the Swiss franc on Monday, as investors locked in gains following the greenback's recent rally amid growing expectations for a near-term end to the Federal Reserv's bond buying program.
USD/CHF hit 0.9676 during European morning trade, the session low; the pair subsequently consolidated at 0.9677, shedding 0.48%.
The pair was likely to find support at 0.9637, the low of May 17 and resistance at 0.9762, the high of May 17 and a nine-month high.
The greenback found broad support on Friday after data showed that U.S. consumer sentiment rose more than expected in May, climbing to an almost six year high.
The University of Michigan said its consumer sentiment index jumped to 83.7 in May, its highest level since 2007, from 76.4 in the preceding month, outstripping expectations for a reading of 78.0.
The strong data fuelled speculation over a possible near-term exit from the U.S. central bank’s asset purchase program.
The Swissie was higher against the euro with EUR/CHF slipping 0.21%, to hit 1.2455.
USD/CHF hit 0.9676 during European morning trade, the session low; the pair subsequently consolidated at 0.9677, shedding 0.48%.
The pair was likely to find support at 0.9637, the low of May 17 and resistance at 0.9762, the high of May 17 and a nine-month high.
The greenback found broad support on Friday after data showed that U.S. consumer sentiment rose more than expected in May, climbing to an almost six year high.
The University of Michigan said its consumer sentiment index jumped to 83.7 in May, its highest level since 2007, from 76.4 in the preceding month, outstripping expectations for a reading of 78.0.
The strong data fuelled speculation over a possible near-term exit from the U.S. central bank’s asset purchase program.
The Swissie was higher against the euro with EUR/CHF slipping 0.21%, to hit 1.2455.